Saudi infrastructure investments to reach $1 trillion by 2030

 

Saudi non-oil sector poised for substantial growth by 2026

Saudi Arabia's non-oil sector is poised for substantial growth by 2026, driven by the expansion of key industries, according to Minister of Economy and Planning Faisal Alibrahim. He also noted that infrastructure investments are expected to reach approximately $1 trillion by 2030, supported by clear economic objectives and long-term private-sector strategies, SPA reported.

Speaking at the Public Investment Fund (PIF) Private Sector Forum, Minister Alibrahim emphasized PIF's central role in economic growth by establishing and funding strategic companies. He highlighted how these initiatives have strengthened government integration and fostered new industries that contribute to economic development.

 

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Key Insights from Minister Alibrahim:

·        PIF’s Expanding Role – Beyond financial returns, PIF plays a crucial role in advancing the knowledge economy and introducing innovative business models.

·        Investment in Human Capital – A strong commitment to developing national talent and fostering expertise in emerging sectors.

·        Diversification Under Vision 2030 – Reducing reliance on oil by strengthening non-oil sectors and boosting high-value exports.

·        Economic Transformation – A fundamental shift rather than a transitional phase, redefining the national economy.

The minister reaffirmed PIF's pivotal role in fostering public-private partnerships and supporting sustainable growth, ensuring the successful realization of Saudi Vision 2030.

Source: MSN